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APAC Edition
21st January 2025
 
THE HOT STORY
Japanese employees pay third parties to announce resignations
Firms such as Exit and Albatross are among those offering services to Japanese workers who find it difficult to leave their jobs. They charge fees of as much as ¥20,000 to announce a resignation to a client’s employer and handle associated formalities. These companies' success has highlighted the challenges that many Japanese workers face in quitting their jobs, amid reports of significant pressure from employers. Exit co-founder Toshiyuki Niino explained: "Japanese are not educated to debate and express opinions." Shinji Tanimoto, CEO of Albatross, said that most bosses were open to accepting a third party announcing the resignation of an employee.

 
MSN
HEALTH & WELLBEING
Report on reproductive leave costs
A new interim report by the Bankwest Curtin Economics Centre has calculated how much it would cost to offer reproductive leave to Australian employees every year compared to current costs without such benefits. Health Services Union national senior assistant secretary Kate Marshall remarked that "This would be a game changer for women dealing with painful periods, menopause and other reproductive health conditions." She continued: "Providing access to paid leave will allow people to rest, heal and treat these conditions without worrying about the financial and workplace consequences of this choice." Critics of the scheme cite concerns about such a system being used as a "blanket policy" for workers with many diverse reproductive conditions.
MANAGEMENT
Japan bank executives' pay cut following employee theft
Executives at MUFG Bank have accepted pay cuts after an employee allegedly stole some ¥1.4bn-worth of valuables from safe deposit boxes managed by the firm. Chairman Naoki Hori, chief executive Junichi Hanzawa and managing executive officer Tadashi Yamamoto, each reportedly took a 30% reduction over three months, while two other executives will receive a 20% cut over three months. The company issued a statement saying: “We sincerely apologize for the inconvenience and concern this is causing customers and stakeholders."
AstraZeneca overhauls management of its scandal-hit China division
AstraZeneca has overhauled its local management in China in a bid to move on from recent scandals and revive sales, replacing Michael Lai with Alex Lin as the country's general manager. The Anglo-Swedish drugmaker has promoted Mary Guan to lead oncology in China.
LEGAL
China rejects accusations relating to unlawful collection of consumer data
China's foreign ministry has issued a statement saying the country's government "has never and will never" violate the law by requiring firms or individuals to collect or provide data. The statement followed a claim by Austrian advocacy group Noyb which alleged that firms including TikTok, Shein and Xiaomi were unlawfully sending user data for European Union customers to China.
PURPOSE
Has corporate purpose lost its purpose?
Writing for the FT, Stefan Stern considers ongoing research which suggests that following a drive to articulate company-wide purpose, employee engagement may go up, but actual staff retention does not.
STRATEGY
Hedge funds flock to Hong Kong
Three global hedge funds, Hudson Bay Capital, Sona Asset Management, and Centiva Capital, are establishing operations in Hong Kong, in a signal of a revival for the city as a financial hub. Hudson Bay, managing approximately US$20bn, registered a Hong Kong entity in October and has begun hiring, including notable recruits from Segantii Capital Management. Sona, with US$10.1bn under management, incorporated its Hong Kong unit in August and is looking to staff it with relocated employees and new hires. Centiva received its regulatory licence in November and has relocated key personnel from Singapore. As Hong Kong seeks to reverse a talent exodus during the pandemic, it faces competition from Singapore and Middle Eastern cities. However, it has recently attracted firms like Jain Global and Arrowpoint Investment Partners, capitalising on challenges faced by local rivals.
TECHNOLOGY
Apple is pulling its AI-generated notifications for news
Apple has suspended a new artificial intelligence (AI) feature that drew criticism and complaints for making repeated mistakes in its summaries of news headlines. The tech giant had been facing mounting pressure to withdraw the service, which sent notifications that appeared to come from within news organisations' apps. "We are working on improvements and will make them available in a future software update," an Apple spokesperson said. The feature had inaccurately summarised headlines from the BBC, the New York Times and the Washington Post, according to reports from journalists and others on social media. The BBC had complained to Apple about the technology after it created false headlines stating that Luigi Mangione, who is charged with the murder of the CEO of UnitedHealthcare, had shot himself. CNN notes that last week, the Apple feature incorrectly summarised a Washington Post notification, stating falsely: “Pete Hegseth fired; Trump tariffs impact inflation; Pam Bondi and Marco Rubio confirmed.” None of these statements are true.
INTERNATIONAL
What's the secret to Denmark's happy work-life balance?
BBC News looks at why Denmark is consistently among the top five countries in the world for work-life balance rankings. Only 1.1% of Danes have to work 50 or more hours a week, according to the most recent global figures from the Organisation for Economic Co-operation and Development (OECD). That's a significantly lower proportion than the world average of 10.2%. By contrast, the figure for the UK is 10.8%, and the US is 10.4%. Meik Wiking, author of the book The Art of Danish Living, and who is also the boss of Danish think tank The Happiness Research Institute, identifies several policies that he believes help generate a strong work-life balance in Denmark, including the right to a minimum five weeks of paid vacation per year, in addition to public holidays. Denmark also offers a very generous six months of paid maternity and paternity leave. Janine Leschke, a professor in the department of management, society and communication at the Copenhagen Business School, says Denmark is definitely "not a work culture where you have to show up and be available all day, all evening, to show that you're working hard all the time."
Most UAE employers expect salaries to increase in 2025
Three-quarters (75%) of employers in the UAE say they expect salaries to increase in their organisation in 2025, according to the GCC Salary Guide 2025 released by Hays. Meanwhile, nearly half (48%) of local employees received a salary raise last year and 74% expect their salaries to increase in 2025, according to the survey, which found that employees in the UAE typically received increments of between 2.5% and 5% in 2024. Khaleej Times also notes a 2025 Hays survey which found that over two-thirds (67%) of UAE nationals say they plan to switch jobs this year. In 2024, just 23% of people said they planned to move to another organisation. “Aside from salary, the leading cause for UAE nationals changing jobs last year was lack of learning and development. This is particularly important to these professionals and will also be a key reason for many people looking to leave their current organisation this year,” Hays said. “Providing employees with professional training, upskilling opportunities, and regular progression reviews is not only important for employee satisfaction and retention but also contributes to growing a skilled workforce.”
OTHER
Australian bootmaker will have to change name for overseas sales
Australian brand UGG boots will have to change its name for overseas customers after being sued by US firm Deckers Outdoor Corporation. Todd Springthorpe of the Australian firm said: “We’ve been proudly making Australian boots for over five decades and three generations. We also own the trademark in Australia and New Zealand, where the boots originated - where UGG boots originated.” He noted the difficulties in fighting a lawsuit against a multi-billion-dollar firm such as Deckers. Instead of UGG Since 1974, the band will now be known outside of Australia and New Zealand as Since 1974. 
 


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